Cebu Pacific Air (CEB) has signed a firm share purchase agreement to acquire 100% of Tigerair Philippines.
The deal includes the 40% stake currently held by Tiger Airways Holdings, and will see CEB form a strategic alliance with Tigerair, collaborating on both domestic and international routes. Tigerair Philippines’ flights will be made available for booking via CEB’s website from mid-March.
“The Cebu Pacific and Tigerair alliance offers the largest low-cost network to and from the Philippines. As we enter the initial phase of the alliance, we will continue to leverage on our extensive route networks, flight frequencies and find ways to provide an even wider range of travel options for all of our customers,” said CEB’s president & CEO, Lance Gokongwei.
The combined CEB and Tigerair Philippines network will offer more than 2,300 weekly flights with a fleet of approximately 50 aircraft.
“In the next few months, our passengers will experience a more vibrant and dynamic Tigerair Philippines. This alliance will leave an indelible mark in the travel and tourism sector as we combine our strengths to deliver the best products and services to the travelling public,” said Tigerair Philippines’ president & CEO, Olive Ramos.